German jobless rate remains record low in June

The number of the unemployed in Germany decreased for the ninth consecutive month in June and helped keep the jobless rate in Europe's biggest economy at its record low, official data showed Tuesday.
 
Adjusted for seasonal swings, the number of people registered as unemployed in Germany declined by 1,000 to 2.786 million in June, data from the Federal Employment Agency showed.

The adjusted jobless rate remained unchanged from the previous month at 6.4 percent, the lowest since the German reunification in 1990.

"The labor market had favorable development in June. At the end of the spring revival, unemployment continues to decline," Frank-Juergen Weise, head of the agency, said in a statement.

Private consumption, supported by a stable labor market, was seen as the main driving force of the German economy this year.

Another report from the Federal Statistical Office Destatis on Tuesday showed that Germany's jobless rate measured with the concept of the International Labour Organization stood at 4.7 percent in May, among the lowest in the euro zone.

German retail sales in May rose by 0.5 percent on a month-on-month basis. The retail sales in the first five months of 2015 increased by 2.4 percent from the previous year, the report said.
   Source:Xinhua - globaltimes.cn
30/6/15
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